Gustav hold your breath

[69gt4speed]

Well it's getting close (my cousin lives on the gulf) but the real story, remember I mentioned it already, be prepared if it goes west of new orleans into texas city, gasoline will hit a new high. They are shutting down the gulf rigs already and refineries will be next. I know plenty of ppl already hurting and look at this towns car scene, it's dead, kaput. When I can count zee's camaro and the old slobra as fastest car out, well that's pretty bad. At least the cycle ppl haven't given up.

[ZacFields]

Hurricane season gas price rises don't worry me. It's all temporary, and the price of crude is already at 2-month lows as it is. So it's got a fairly good ways to go up to put us in record price territory.

Plus, since it's only temporary, it's yet another time that oil investors will get burned.

[69gt4speed]

If it gets to a category 4 through texas city, I assure you it won't be temporary unless you say at best a yr is temp. If I am wrong buy you a beer. Those docking facilities are there also for venezuela and mideast. Of course I don't like that idea just look what a lil ol flood did here. I'm not a whiner just a realist, things are bad, our business went soft cause no one has the $ to buy a fairly decent product. Some times I wonder Zac, you talk to anyone, things are weak. And ya I make money but for these young ppl its gotta suck. Why I have been helping the kids out all the time. This yr it's worse, my bank account says so.
All our large refineries are on the gulf in prime hurricane areas.
The BP facility in Texas City is the United States's third largest oil refinery, employing over 2,000 people and processing 460,000 barrels (73,000 m³) of crude oil each day.
ExxonMobil Baytown, TX, USA 557,000
ExxonMobil Baton Rouge, USA 493,500
Citgo Lake Charles Lake Charles, LA, USA 425,000
Valero Port Arthur TX, USA 325,000
Motiva Port Arthur TX, USA 325,000

[ZEE]

They've been weathering hurricanes for years though. It ain't their first rodeo.

[ZacFields]

That's how I feel about it ZEE. I'm hoping they're prepared for what's coming. It's impossible to predict for certain what will happen, so we'll see how the next few days treats our southern coastal states.

We'll be sure to keep them in our thoughts and prayers. The last thing New Orleans needs right now is to have their partially rebuilt town torn to shreds again. I'm not nearly as worried about the gas prices as I am about a town like New Orleans possibly deciding to just call it quits and leave the town in shambles with no intention of rebuilding.

[69gt4speed]

They've been weathering hurricanes for years though. It ain't their first rodeo.
That's true but these days the refinery capacity is limited for the needs. Every year more ppl are here, more ppl drive, simple math. We haven't built a refinery in years. Whatever they have a reason to charge us more. Katrina, ol Mccain and gw were hamming it up for his birthday. Only facts, sorry as it is.
http://thinkprogress.org/2008/04/24/fla ... with-bush/ (http://thinkprogress.org/2008/04/24/flashback-as-katrina-raged-mccain-celebrated-69th-birthday-with-bush/)
I'll be nice Zee... :biggrin: I like moser rear ends.
I love my cousin btw, we were close same age she trying to start anew at older than dirt. Pharmacist. Bought a place on the coast. She's like me, helps her kids out. Birthday yesterday.

[69gt4speed]

Did I mention a guy plans to kayak to north pole? Yea everything is the same, wtf santa going to be?
http://news.bbc.co.uk/2/hi/science/nature/7588377.stm

[ZacFields]

Update for anyone concerned: Oil had traded up around $3.00 yesterday before the storm hit the coast in speculation that the storm would make a large impact on the energy market.

Today on the global market, oil traded down $4.67 (so now it is lower than it closed at on Friday) because Gustav was downgraded to a category 2 hurricane immediately upon hitting the coast, and it is believed the effect on the energy market will be much less than previously feared.

We're not completely safe yet, but for the most part it would appear that Gustav isn't going to cause as much trouble as previously thought. But we won't know 100% for at lest a few days.

http://money.cnn.com/2008/09/01/markets ... 2008090111 (http://money.cnn.com/2008/09/01/markets/oil_gustav/index.htm?postversion=2008090111)

[69gt4speed]

That is really good news of course. I was worried about my cousin, though still could get flooded. And the gov has got on the stick, they better. Doing right thing is tops in my book. We will see the outcome. I know ppl going back to school across the nation, money is limited don't need any more problems.

[ZacFields]

For sure. I'm reading that Gustav is a lot weaker than Katrina was, so at least that's the bright spot in all of this. Hurricanes are never good, no matter how big or small they are, but at least we know it won't be worse than the last big one we got.

Hopefully everyone down there can just hang in there for a few more days until this thing passes by.

[69gt4speed]

Well we have 2 others suppose to hit next week sometime. Can't get my cousin but pwr is probably down.

[ZacFields]

Today's news on crude oil: Crude plunges almost $7.00 in response to Gustav's weaker than expected effect on the oil industry. Word is that some production will resume as early as this evening.

Today's price for crude oil -- around $106/barrell -- is a 4-month low.

Lots of people are speculating that the effect of hurricane season was already partially built in to the price of oil, since we are still sitting at extremely inflated levels (our oil price now is much higher than it was during Katrina) and when news broke that the big hurricane this season probably hasn't done any serious damage to the oil industry, now is a great time for investors to bail out of oil because aside from a hurricane headed for Georgia, which should have very minimal (if any) effect on oil, hurricane season won't be here again for another year.